Paying the right price for oil
HERE’S the sticky truth about oil: As a finite commodity, the world never seems to tire of burning more of, its price is bound to hit the roof.
Consumption & Demand
OPEC: Demand for Oil Growing
OPEC expects world oil demand to rise by some 2 million barrels per day in the third quarter from a seasonal second quarter low, as consumption growth hits a seven-year high, the cartel said Thursday.
Facing the Limits to Growth
In an updated version of an influential 1972 book on the dangers facing the planet, the authors confirm that the earth is taxed and overcommitted. But, as they say, knowing is half the battle.
Australia not facing up to reality of energy resources
Australia will have to import oil by the end of this decade as we move into a world where prices are inevitably going to be higher.
India, China and Energy Security
The key energy-related issues for these two countries are increasing energy
dependency on imported oil, growing environmental concerns due to the dependency
on coal, transportation and supply problems, and regional geopolitics.
Darkness falls on Tokyo
Japan’s electricity industry is in turmoil. This may have a big impact on the world’s energy markets
OPEC Presses Non-OPEC for More Oil
OPEC said on Wednesday it will ask producers outside the cartel to raise output to help cool high prices, but got a quick reply from Russia saying it had no slack in its system to boost exports.
Australia: Energy future is still ‘on precipice’
“…and alongside those issues was the alarming decline in Australia’s self-sufficiency in crude oil, which forecasters say means we will have to import most of our crude oil and petroleum products from overseas by 2008.”
Nuclear power gets a surge of political energy
PARIS – Nuclear power, its image darkened by the 1986 Chernobyl disaster, appears to be making a comeback of sorts in Europe as the Continent struggles to meet energy needs, faces higher bills for imported oil and honours its pledge to cut carbon pollution.
Oil and consumers widen US trade deficit
AMERICA’S trade deficit widened unexpectedly in April to a record US$48.3 billion (£26.7bn), as strong consumer demand and the highest oil prices in 21 years pushed imports to unprecedented levels. The monthly trade gap was well above Wall Street forecasts of $45bn (£24.8bn).
China: Severe energy shortage warned
An industrial report of the State Information Center with the National Bureau of Statistics forecasts China will face a more severe power shortage this year than it did in 2003.
Raymond: Facing Some Of The Hard Truths About Energy
For a variety of reasons, we expect fossil fuels to provide about 80 percent of the energy used in 2020, and to increase — and I emphasize increase — in absolute magnitude by about 65 million oil equivalent barrels per day. Just how much is 65 million barrels per day? Well, it is close to eight times Saudi Arabia’s current crude oil production.
